New Unitus Labs Initiative Seeks to Accelerate Development of Innovative Startups Which Have the Potential to Significantly Benefit Families Living on Less Than $2 Per Day
Seattle, WA and Bangalore, India, February 6, 2012 — Unitus Labs, an international non-profit focused on reducing global poverty through economic self-empowerment, is launching today the Unitus Seed Fund, a new seed stage venture fund that invests in Indian startup businesses with potential for large-scale poverty impact. Unitus Seed Fund is also announcing its first three investments in Indian startups Bodhicrew Services, Hippocampus Learning Centres, and Milaap Social Ventures.
“After a decade of helping accelerate and scale the Indian microfinance industry, we are excited to launch the new Unitus Seed Fund initiative in order to support development of more new pro-poor businesses,” said Dave Richards, CEO of Unitus Labs and Managing Director of Unitus Seed Fund. “We are seeing a new group of highly capable and socially motivated entrepreneurs who believe that they can realize more wide-scale and sustainable poverty impact by operating as a business rather than as a non-profit. The Unitus family of entities has always been willing to invest on the cutting edge of economic empowerment concepts and projects.”